Amazon made an $11.2bn profit in 2018 but paid no federal tax

Company is not paying a single cent in taxes for the second year in a row, due to various unspecified ‘tax credits’ and executive stock options

Amazon has had a bad week but there is some comfort for the tech titan – it will not pay a single cent in income tax on the $11.2bn of profits it made last year.

The online shopping and tech giant scrapped plans to build a second headquarters in New York this week after a backlash over a proposed $3bn in taxpayer subsidies. Local politicians questioned why a company that made $1bn a month in the last three months of 2018 alone should be lured to New York with taxpayers’ cash.

Continue reading...

from The Guardian http://bit.ly/2DJXsjp
via
0 Comments